Truist Financial Raises ConocoPhillips (NYSE:COP) Price Target to $160.00

ConocoPhillips (NYSE:COP) had its price target increased by equities research analysts at Truist Financial from $151.00 to $160.00 in a research note issued on Monday, FlyOnTheWall reports. Truist Financial’s price target indicates a potential upside of 28.70% from the stock’s previous close.

Several other analysts have also recently issued reports on COP. Raymond James dropped their target price on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of ConocoPhillips in a research report on Monday, August 14th. Mizuho increased their target price on ConocoPhillips from $135.00 to $139.00 in a research report on Monday. Jefferies Financial Group dropped their target price on ConocoPhillips from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Finally, Citigroup decreased their price objective on ConocoPhillips from $145.00 to $140.00 in a report on Wednesday, July 12th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.11.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE:COP opened at $124.32 on Monday. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49. The stock has a market cap of $148.87 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.78 and a beta of 1.30. The business’s 50 day moving average is $116.22 and its 200 day moving average is $107.25. The company has a quick ratio of 1.28, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.10). The firm had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same period last year, the company earned $3.91 EPS. Sell-side analysts predict that ConocoPhillips will post 8.74 EPS for the current year.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in ConocoPhillips by 21.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,259 shares of the energy producer’s stock worth $234,000 after purchasing an additional 396 shares during the period. DCM Advisors LLC grew its position in ConocoPhillips by 11.7% during the 2nd quarter. DCM Advisors LLC now owns 24,930 shares of the energy producer’s stock worth $2,583,000 after purchasing an additional 2,608 shares during the period. ST Germain D J Co. Inc. acquired a new stake in ConocoPhillips during the 2nd quarter worth about $447,000. Portside Wealth Group LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth about $1,083,000. Finally, Lavaca Capital LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth about $265,000. 80.36% of the stock is owned by institutional investors and hedge funds.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.